European common enforcement priorities for financial reports have been published

The European common enforcement priorities (ECEP)1 of the European Securities and Markets Authority (ESMA), published on 25 October 2023, cover the IFRS financial statements of listed companies for 2023 and the reporting of non-financial information.

The public statement regarding priorities is divided into three distinct parts. The priorities regarding the IFRS presented in the first part are:

  1. the impact of climate-related matters on IFRS financial statements
  2. the impacts of the macroeconomic environment.

In section 1, the consistency of financial reporting with non-financial information, impairment of non-financial assets, and accounting for emissions trading schemes are examined. Section 2 focuses on financial risks and fair-value measurement and related notes.

The second part focuses on non-financial reporting. The focus areas of the enforcement are:

  1. disclosures relating to Article 8 of the Taxonomy Regulation
  2. disclosures of climate-related targets, actions and progress
  3. Scope 3 emissions.

In the third part, ESMA wants to remind companies of the consistency of Alternative Performance Measures (APMs) between years. In addition, ESMA draws attention to the fact that the goal of XBRL block tagging in the notes is to help users find the relevant information.

For further information, please contact:

  • Nina Lindeman, Senior Specialist, nina.lindeman(at)
  • Sirpa Joutsjoki, Senior Specialist, sirpa.joutsjoki(at)

1 European common enforcement priorities 2023.